Showing papers in "Technological and Economic Development of Economy in 2012"
TL;DR: A fuzzy multi-criteria decision making framework that incorporates imprecise judgments inherent in the personnel selection process is provided and a decision maker is able to trust solutions offered by solution support systems to a greater extent.
Abstract: The philosophy of decision making in economics is to assess and select the most preferable solution, implement it and to gain the biggest profit. Important issues such as competitive market, changing technical, political and social environment have a key role in personnel selection. It is the crucial task which determines the company's present and future. Many decisions made cannot be accurately forecast or assessed. Understanding of the multiple criteria method and knowledge to calculate the algorithm of the method allows a decision maker to trust solutions offered by solution support systems to a greater extent. Many individual attributes considered for personnel selection such as organizing ability, creativity, personality, and leadership exhibit vagueness and imprecision. The fuzzy set theory appears as an essential tool to provide a decision framework that incorporates imprecise judgments inherent in the personnel selection process. In this paper, a fuzzy multi-criteria decision making (MCDM...
231 citations
TL;DR: Comments are offered on a previously published paper, titled “Multiple criteria decision making (MCDM) methods in economics: an overview,” by Zavadskas and Turskis (2011), which made great efforts to summarize MCDM methods but may have failed to consider several important new concepts and trends in the field for solving actual problems.
Abstract: This paper offers comments on a previously published paper, titled “Multiple criteria decision making (MCDM) methods in economics: an overview,” by Zavadskas and Turskis (2011). The paper's authors made great efforts to summarize MCDM methods but may have failed to consider several important new concepts and trends in the MCDM field for solving actual problems. First, the traditional model assumes the criteria are independently and hierarchically structured; however, in reality, problems are often characterized by interdependent criteria and dimensions and may even exhibit feedback-like effects. Second, relatively good solutions from the existing alternatives are replaced by aspiration levels to fit today's competitive markets. Third, the emphasis in the field has shifted from ranking and selection when determining the most preferable approaches to performance improvement of existing methods. Fourth, information fusion techniques, including the fuzzy integral method, have been developed to aggreg...
185 citations
TL;DR: The purpose of this paper is to understand SVM from the optimization point of view, review several representative optimization models in SVMs, their applications in economics, in order to promote the research interests in both optimization-based SVMs theory and economics applications.
Abstract: Support vector machines (SVMs), with their roots in Statistical Learning Theory (SLT) and optimization methods, have become powerful tools for problem solution in machine learning. SVMs reduce most machine learning problems to optimization problems and optimization lies at the heart of SVMs. Lots of SVM algorithms involve solving not only convex problems, such as linear programming, quadratic programming, second order cone programming, semi-definite programming, but also non-convex and more general optimization problems, such as integer programming, semi-infinite programming, bi-level programming and so on. The purpose of this paper is to understand SVM from the optimization point of view, review several representative optimization models in SVMs, their applications in economics, in order to promote the research interests in both optimization-based SVMs theory and economics applications. This paper starts with summarizing and explaining the nature of SVMs. It then proceeds to discuss optimization...
143 citations
TL;DR: In this article, the authors defined the factors and grounds affecting sub-contractors productivity and evaluated their overall negative side effects on project productivity via a structured questionnaire, a total of 31 factors selected and were divided into seven broad categories.
Abstract: The intense competition between the Iranian construction companies has led them to take all appropriate measures to decrease the costs as much as possible. Hence, due to the pivotal role of human resources in construction projects cost, a major part of Iranian construction companies seek their profitability and survival in maximizing the productivity of their operatives. Because of the widespread belief among contractors about the low productivity of daily workers and operatives with basic salary, they commit a major part of their projects activities to sub-contractors. Deployment of sub-contractors by construction firms has become largely conventional in country's construction projects. The aims of this paper is defined as determining the factors and grounds affecting sub-contractors productivity and evaluate their overall negative side effects on project productivity via a structured questionnaire. A total of 31 factors selected and were divided into 7 broad categories. The perceptions of compa...
142 citations
TL;DR: A hybrid multi-criteria decision making (MCDM) model for selecting a supplier and Kalleh Company is chosen as a case study to illustrate the functional ability of the developed model.
Abstract: This paper is aimed at utilizing a hybrid multi-criteria decision making (MCDM) model for selecting a supplier. First, eight evaluation criteria, including cost, quality, distance, delivery reliability, reputation, technology level, compatibility and development ability are identified. The A nalytic H ierarchical P rocess (AHP) is initially used for calculating the weight of each criterion. The CO mplex PR oportional AS sessment of alternatives to G rey relations (COPRAS-G method) is adopted for ranking and selecting suppliers. In order to illustrate the functional ability of the developed model, Kalleh Company is chosen as a case study and can be used as a pattern for supplier selection and future researches.
83 citations
TL;DR: In this paper, the authors proposed a procedure for integrated assessment and comparison of Lithuanian economic sectors on the basis of financial ratios and fuzzy MCDM methods, which covers period of 2007-2010, starting at the very beginning of the economic recession and hopefully ending with the upcoming recovery.
Abstract: The aim of this study was to offer a novel procedure for integrated assessment and comparison of Lithuanian economic sectors on the basis of financial ratios and fuzzy MCDM methods. The complex of interrelated issues regarding integrated assessment of economic sectors is discussed in the paper. The object of research is financial indicators of different Lithuanian economic sectors. The proposed procedure for multi-criteria comparison of economic sectors encompasses: 1) the indicator system, 2) application of fuzzy MCDM methods, and 3) inter-sectoral comparison based on ranks provided by fuzzy MCDM methods. The research covers period of 2007–2010, starting at the very beginning of the economic recession and, hopefully, ending with the upcoming recovery. The application of the three MCDM methods was successful. The results suggested the best performing sector being that of forestry and logging. Furthermore, enterprises operating in trade sector, hospitality sector, mining and quarrying sector, info...
81 citations
TL;DR: In this article, the authors combine the concept of interval grey numbers and MOORA method in order to propose extended MCDM method which will be more appropriate to solve many complex real-world problems.
Abstract: Many real-world problems are complex and/or related to the manifestation of some form of uncertainty and/or prediction. Therefore the use of extended MCDM methods is more appropriate than the use of the other classic decision making methods. These methods are improved by the use of a form of fuzzy or interval grey numbers. In the field of operational research, during the previous period, numerous MCDM methods were formed, but one newly proposed, the MOORA method, is very specific and yet has no extension. Therefore, in this paper we combine concept of interval grey numbers and MOORA method in order to propose extended MOORA method which will be more appropriate to solve many complex real-world problems.
74 citations
TL;DR: In this paper, the relationship between RD learning and external networking also had a significant influence on innovation and the measurement of firms' performance should not be solely based on the intensity of R&D expenditures, but a broader set of factors including learning and network capabilities.
Abstract: This paper investigates the relationship between RD learning and external networking also had a significant influence on innovation. The research implication of this finding is that the measurement of firms’ performance should not be solely based on the intensity of R&D expenditures, but a broader set of factors including learning and external networking capabilities. Second, the technology commercialization capabilities of firms pl...
69 citations
TL;DR: In this paper, an improved Analytical Hierarchy Process-group decision making (IAHP-GDM) model is proposed to reduce investment risk, which applies the method of least squares to adjust group decision matrix to satisfy the property of positive reciprocal matrix in AHP.
Abstract: Investment strategy selection relies heavily on personal experience and behavior. This paper proposes an improved Analytical Hierarchy Process-group decision making (IAHP-GDM) model to reduce investment risk. This model applies the method of least squares to adjust group decision matrix in order to satisfy the property of positive reciprocal matrix in AHP. In addition, five experts from related fields are invited to evaluate investment risk that takes group wisdom to eliminate personal bias. An empirical study is conducted to compare the proposed model to AHP for group decision making model. The results show that the IAHP-GDM model is not only accurate and effective, but also consistent with realistic investment environment.
64 citations
TL;DR: A rich collection of foresight methods identified by the author, a general outline and characteristics of various types of methods, and an innovative classification of technology foresight research methods are presented in this paper.
Abstract: Since the end of the twentieth century there is a noticeable worldwide paradigm shift in future studies which are so far based mainly on statistical methods. The development of a social, not only a strictly scientific vision of the future has become crucial. It appears that the biggest role in this context played technology foresight programs (whose origins go back even to the 70's), integrating traditional methods of forecasting as well as those derived from the social sciences, economics, management science, etc. The paper presents a rich collection of foresight methods identified by the author, a general outline and characteristics of various types of methods, and an innovative classification of technology foresight research methods. Because of the huge complexity of the approach to technological foresight and its further evolution, the ability to classify and identify the typology of methods may be necessary for an orderly and rational way of structuring foresight projects.
61 citations
TL;DR: A new method is proposed to solve the multiple-attribute group decision making problems in which the attribute values take the form of 2-dimension uncertain linguistic variables and the attribute weights are unknown.
Abstract: Based on the definition of 2-dimension linguistic information of multiple attribute decision making problems proposed by Zhu, Zhou and Yang (2009), the information on evaluation is extended to 2-dimension uncertain linguistic variables, and a new method is proposed to solve the multiple-attribute group decision making problems in which the attribute values take the form of 2-dimension uncertain linguistic variables and the attribute weights are unknown. Firstly, the II class of uncertain linguistic information is transformed into the subjective weights of the experts, and then the subjective weights, the similarity degree of experts’ evaluation information and authority weights are aggregated to the comprehensive weights of each expert. By the comprehensive weights, the group decision making matrix is produced by weighting evaluation information of each expert. Then the maximum deviation method is used to calculate the attribute weights and TOPSIS method is proposed to rank the alternatives. Fina...
TL;DR: In this paper, a framework of evaluation is presented studying past researches utilizing the following criteria; public training, classic training, special training, cultural services, social services, governmental services and other services.
Abstract: The project of developing technology in villages was an important project in Iran which was finished in 2010 but it's still being pursued to develop its related services. This project includes many major and minor objectives. After passing six years from the beginning of this project, it seems reasonable to do research about evaluating the progress of these centers. Hence, a framework of evaluation is presented studying past researches utilizing the following criteria; public training, classic training, special training, cultural services, social services, governmental services and other services. Three MCDM methods are applied for evaluating; Fuzzy AHP is used for calculating weights of each criteria and sub-criteria and SAW-G and TOPSIS Grey are applied for evaluating alternatives. Three rural ICT centers are selected as a case study which are located in Golestan Province in north of Iran. The findings show that due to new services presented in these areas, public training and cultural services...
TL;DR: An integrated evaluation model based on the analytic network process (ANP) and the complex proportional assessment (COPRAS) is proposed to help the decision makers or managers with the selection of proper working strategy in a fuzzy environment where the fuzziness and uncertainties are handled with linguistic terms parameterized by triangular fuzzy numbers (TFNs).
Abstract: Selection of the working strategy is a critical problem and it plays a significant role in the success of organization development. On the other hand, selecting the most appropriate working strategy among a pool of alternatives is a multi-criteria decision making (MCDM) problem. Since every working strategy has its benefits and costs and may bring a company different opportunities and risks, which kind of working strategy is the most appropriate for a company to accomplish is a sophisticated and complex decision with a high degree of uncertainty. Therefore, the current paper proposed an integrated evaluation model based on the analytic network process (ANP) and the complex proportional assessment (COPRAS), to help the decision makers or managers with the selection of proper working strategy in a fuzzy environment where the fuzziness and uncertainties are handled with linguistic terms parameterized by triangular fuzzy numbers (TFNs). In this paper fuzzy ANP (FANP) is utilized to take into account ...
TL;DR: The importance of using regular educational environment evaluation, which involves students' indirect participation in decision-making, as one of the most essential quality assurance activities associated with higher school improvement is discussed in this paper.
Abstract: Concern about the quality of higher education is on the rise in Europe. To provide quality enhancement of the educational environment higher education institutions should create and implement a strategy for their higher school improvement - a long-term action plan aimed at achieving organisational goals, which includes a) the management of the organisational units as interconnected and interdependent entities; b) the engagement of students in quality assurance activities as enthusiastic and responsible academic community members. This paper discusses the importance of using regular educational environment evaluation, which involves students' indirect participation in decision-making, as one of the most essential quality assurance activities associated with higher school improvement. It also emphasizes the significance of measuring student satisfaction in education, student satisfaction and student motivation being the result of student interactions with the educational environment in the form of ...
TL;DR: The conducted research has concluded that the Analytical Hierarchy Process (AHP) model is appropriate for using it in the process valuating bank performance and to evaluate the performance of banks.
Abstract: The paper presents an attempt to adopt a muticriteria decision making approach, particularly the Analytical Hierarchy Process (AHP) model, and to evaluate the performance of banks. The model is based on a system of various qualitative and quantitative criteria and their mutual relations. A system of indicators is created and described and each indicator is assigned a different degree of significance taking into account the needs and priorities of both internal and external evaluators. Model adaptation to Lithuanian market and an empirical test enabled to compare banks between each other, reveal their ranking and identify the banks taking leading positions in the market. The conducted research has concluded that the Analytical Hierarchy Process (AHP) model is appropriate for using it in the process valuating bank performance.
TL;DR: An IITFWG and IITFHG operators-based approach is developed to solve the MAGDM problems in which both the attribute weights and the expert weights take the form of real numbers and attribute values take the forms of interval intuitionistic trapezoidal fuzzy numbers.
Abstract: In this paper, we investigate the multiple attribute group decision making (MAGDM) problems in which both the attribute weights and the expert weights take the form of real numbers, attribute values take the form of interval intuitionistic trapezoidal fuzzy numbers. Firstly, some operational laws of interval intuitionistic trapezoidal fuzzy numbers are introduced. Then some new aggregation operators including interval intuitionistic trapezoidal fuzzy ordered weighted geometric (IITFOWG) operator and interval intuitionistic trapezoidal fuzzy hybrid geometric (IITFHG) operator are proposed and some desirable properties of these operators are studied, such as commutativity, idempotency and monotonicity. An IITFWG and IITFHG operators-based approach is developed to solve the MAGDM problems in which both the attribute weights and the expert weights take the form of real numbers and attribute values take the form of interval intuitionistic trapezoidal fuzzy numbers. Finally, some illustrative examples ...
TL;DR: According to the characteristics of human resource managers’ competency and the research of relevant literatures at home and abroad, a competency evaluation method of human resources managers based on multi-granularity linguistic variables and VIKOR method is proposed.
Abstract: According to the characteristics of human resources managers’ competency and the research of relevant literatures at home and abroad, a competency evaluation method of human resources managers based on multi-granularity linguistic variables and VIKOR method is proposed. Firstly, the evaluation indicator system based on the competency of human resources managers is constructed. Then, by converting the evaluation information of different experts in different granularity to the same granularity by two-semantics, the comprehensive evaluation values can be obtained by integrating information of different experts. Further, the objective weights of the evaluation indexes were determined by the entropy method and an evaluation method were proposed based on the VIKOR method. Finally, an application example is given to illustrate the evaluation procedures of the developed approach and to demonstrate their practicality and effectiveness.
TL;DR: In this paper, the authors propose a holistic sustainability assessment methodology based on the authors' previous research work for structures, which includes quality as well as sustainable performance of the built environment and accompanying construction processes.
Abstract: In today's world, the definition of quality has been extended to more comprehensive level, which also comprises sustainable performance. The paper systematically builds an integrated model that includes quality as well as sustainable performance of the built environment and accompanying construction processes. This model for the “Integrated Quality and Sustainability Performance Assessment in Construction” presents a three-level arrangement, namely: the structure, process/ project, and construction product. We propose a holistic sustainability assessment methodology based on the authors’ previous research work for structures. The strict implementation of quality and environmental management systems in the participating organisations and in the whole construction project guarantees quality and environmental performance at project/process level. On the construction product level, we complement the existing requirement of providing a statement of conformity for each product of the structure with the...
TL;DR: In this article, the authors present the partial results of a research of the current state of self-financing and diversification of financial resources of private non-profit organizations in the Slovak Republic.
Abstract: Ensuring the financial stability of non-profit organizations through financial decision in the structure of financial resources is influenced by many objective and subjective factors. However, a necessary presumption of financial stability is to reduce their dependence on one source of funding or in other words, the independence can be achieved by diversifying of the funding sources. And it is the diversification of financial sources and their acquisition through self-financing that we consider as an appropriate way to achieve financial balance and thus long-term existential security of non-profit organizations. This scientific paper presents the partial results of a research of the current state of self-financing and diversification of financial resources of private non-profit organizations in the Slovak Republic. We analysed the primary data by the relevant scientific methods and procedures (selected mathematical-statistical methods, analysed in SPSS – Statistical Package for the Social Science...
TL;DR: A case study of an e-Government interaction between a ministry and a government agency and the information security challenges identified in the implementation is presented.
Abstract: The government of Tanzania adopted an e-Government strategy in 2009 that is aimed at improving efficiency in government and providing better services to citizens. Information security is identified as one of the requirements for the successful e-Government implementation although the government has not adopted any standards or issued guidelines to government agencies with regards to information security. Comprehensive addressing of information security can be an expensive undertaking and without guidelines information security implementations may be more prone to failure. In a resource poor country such as Tanzania, there is a need for a cost effective and sustainable means of addressing information security in e-Government implementations. In this paper the authors present a case study of an e-Government interaction between a ministry and a government agency and the information security challenges identified in the implementation. In order to address these challenges an information security fram...
TL;DR: In this paper, a quantitative method, which compares multiple and optimum objectives, expressed in different units, as much as possible on a non-subjective basis, is proposed, which does not need normalization, being based on dimensionless measures.
Abstract: It is the intention of the European Union to create a growing and sustainable European economy by 2020, a much more moderate target than the 2010 target of becoming the most competitive and dynamic knowledge-based economy in the world. This intention has to be supported by an adequate Optimization and Decision Support System. Therefore, MULTIMOORA is proposed. MULTIMOORA is a quantitative method, which compares multiple and optimum objectives, expressed in different units, as much as possible on a non-subjective basis. In opposition to similar methods MULTIMOORA does not need normalization, being based on dimensionless measures. Importance of an objective can eventually be given by the stakeholders concerned. MULTIMOORA is composed of three approaches: Ratio System, Reference Point and Multiplicative Form Methods, all of the same importance and each controlling each other. Twenty two objectives, 10 originating from statistics and 12 from statistics and forecasts, important for the future, charact...
TL;DR: The article presents the methods for showing the consistency of respondent and expert judgements on ranking the sets of criteria defining the quality of travelling by train and the employed method allows for determining the normalized weights of particular criteria with respect to other criteria of the analysed group.
Abstract: The goals, needs and possibilities of interested parties (administration, service staff and passengers travelling in a train) should be taken into account when organizing passenger transportation and making decisions concerning particularly this area. Improvement in passenger transportation (train travel) depends on experience, qualification and decisions made by the experts involved in this process. The paper analyses the performance of the joint-stock company Lietuvos geležinkeliai and examines criteria describing the quality of passenger transportation provided by this organization. The article presents the methods for showing the consistency of respondent and expert judgements on ranking the sets of criteria defining the quality of travelling by train. The significance of the considered criteria is based on a pair wise comparison. The employed method allows for determining the normalized weights of particular criteria with respect to other criteria of the analysed group (A, B, C, D). The arti...
TL;DR: A model that allows for “weakening” the links between activities, i.e. that permits concurrent execution of activities or reversing their order, but this may require additional resource-consuming works or expenditures is presented.
Abstract: Current network techniques used for project scheduling presume that there is only one logical sequence of activities. However, in reality, the precedence logic of activities is not necessarily unchangeable. There are two types of relations between activities: fixed (hard) and soft. Current scheduling methods do not differentiate between these two types of relations and require a planner to choose one particular logical sequence based on some assumptions. The paper presents a model that allows for “weakening” the links between activities, i.e. that permits concurrent execution of activities or reversing their order, but this may require additional resource-consuming works or expenditures. The model involves two subtypes of soft logic: REVERSED and CANCELED to represent the soft relations between activities. Its mathematical form is a mixed linear integer programming model of minimizing the project duration without exceeding the allowed budget. The paper presents an example of practical application...
TL;DR: The business processes involved in the manufacturing and construction company are described and how ERP systems could be implemented and the efficiency of management system consequently enhanced are illustrated.
Abstract: The enterprise resource planning (ERP) software market has been growing at a very fast pace over the last few years and has been predicted to keep growing rapidly in the long term. ERP systems have the potential to integrate seamlessly organizational processes using common shared information and data flows. Enterprises recently tend to implement their new enterprise information systems like ERP system in order to gain their competitive advantages and bring up their business efficiency, but the efficiency gained from this new implementation is not quite clear and is difficult to be identified. This paper presents a case study of ERP systems implementation in international construction materials procurement and purchasing company in Latvia. Specifically, this paper briefly described the business processes involved in the manufacturing and construction company and illustrated how ERP systems could be implemented and the efficiency of management system consequently enhanced. For an international company, the headquarters’ successful experience can provide a guideline to assist the local office to implement new system effectively and efficiently. ERP information system supports manufacturing process and construction object related information. This paper also argues that ERP systems are an increasingly important source of organizational change with major implications for the organization and management of work.
TL;DR: In this paper, a new version of LINMAP-G is proposed where the decision maker's judgments are expressed as grey numbers, and the grey ideal solution and attributes weight vector is determined and alternatives are ranked according to their weighted distance from determined ideal point.
Abstract: The linear programming technique for multidimensional analysis of preference, known as LINMAP is one of the existing well-known ideal seeking methods for multi attribute decision making problems. This method originally is proposed under crisp and deterministic circumstances. However, uncertainty is an indubitable property of decision making problems. In this paper, a new version of LINMAP-G is proposed where the decision maker's judgments are expressed as grey numbers. Like original LINMAP method, the grey ideal solution and attributes weight vector is determined and alternatives are ranked according to their weighted distance from determined ideal point. Application of the proposed method is illustrated in two numerical examples.
TL;DR: In this paper, the authors proposed a new model for measuring human capital, which consists in international comparability; money metric scale and more importantly provide solid evidence on human capital significance for economic growth.
Abstract: The aim of the paper is to broaden the research on human capital providing new evidence that human capital matters for economic growth in reforming economies We propose a new model for measuring human capital An advantage of the proposed model consists in international comparability; money metric scale and more importantly provide solid evidence on human capital significance for economic growth This new approach in measuring human capital proved robust to the spurious regression problem involving human capital Study results shows that human capital is important for growth and that large educational investments are essential to boost accumulation
TL;DR: In this paper, a case study of two PFI road projects in the UK demonstrates that the PFI mechanism facilitates sustainable implementation to a far greater extent than is achievable using traditional procurement methods.
Abstract: The construction industry is facing the challenge of increasing demands of its sustainability performance. The construction and maintenance of the built environment has substantial impact on the sustainability of the environment. Meanwhile, public sector clients are increasingly asking for a sustainable approach in their specification and procurement decisions, sustainability is still seen as a novel concept within the construction industry in many parts of the world without a settled definition. The premise of this study is that the interaction between road projects realized by the private finance initiative and their delivery in the UK improve sustainability. The paper, based on the case study research, explains the sustainability implementation in two PFI road projects and demonstrates that the PFI mechanism facilitates sustainable implementation to a far greater extent than is achievable using traditional procurement methods.
TL;DR: In this paper, the authors analyzed the influence of five selected accounting transaction on balance sheets and income statements that are prepared once according to the Czech legislation and IAS/IFRS and their influence on financial statements.
Abstract: In recent global world the importance of financial markets is growing as well as the amount of capital distributed through these markets. To enable optimal efficiency of these markets the best investment opportunities has to be chosen. An alternative how to compare and select suitable companies to invest in is represented by a financial analysis of financial statements. The results of financial ratios are mainly influenced by the presumptions according to those the financial statements have been prepared. Therefore, in this article there is analysed if and eventually how significant the input data, influence the results of financial ratios. Firstly, the description of financial ratios that are used in following analysis is made. After that, there are analysed the requirements of Czech legislation and IAS/IFRS and their influence on financial statements. Then, the influence of five selected accounting transaction on balance sheets and income statements that are prepared once according to the Czech...
TL;DR: In this paper, the authors present the definition of quality of life and its relationship with sustainable development, and compare the indicators of quality-of-life in Lithuania with other countries.
Abstract: The paper presents the definition of quality of life and its relationship with sustainable development. The paper analyses and compares the indicators of quality of life in Lithuania with other countries. A quality of life is an explicit or implicit policy goal. Various measurements and indicators to evaluate a quality of life were proposed during the recent years however there are no widely accepted objective indicators of quality of life able to compare countries. Sustainable development concept proposes new approach to measure quality of life. Therefore the aim of sustainable development is to increase quality of life. Quality of life can be addressed in terms of people health, the state of economy, employment, infrastructure development, crime and environment. All these indicators are interrelated as economic development creates preconditions to maintain public health, develop social and technical infrastructure, to increase employment, to ensure quality of environment, to tackle with crime e...
TL;DR: A software agent based framework's architecture for boosting performance in supply chain management applications is presented, based on agent interaction and semantic web service composition.
Abstract: This paper presents a software agent based framework's architecture for boosting performance in supply chain management applications. The framework is based on agent interaction and semantic web service composition. The purpose of such a platform is to develop flexible business applications for SCM transactions modeling, in collaborative and distributed economic systems. The interaction between agents is limited by a cybernetic model that takes into account several constraints one of the main being bankruptcy risk potential of the peer partner company.